How Camden Town Brewery is keeping its craft ale credentials after its £85m takeover by AB Inbev March 13, 2017 Brits are drinking craft beer as if it were going out of fashion. The number of new brewery openings in the UK surged 55 per cent to a record 520 last year, and between eight and nine per cent of the total beer sold in licensed premises in the UK is craft. That’s still significantly [...]
French Connection expected to announce ninth year of losses amid turnaround plan March 12, 2017 French Connection is set to record a ninth year of losses in its annual results this week. However, the group is expected to point out that it is only two-thirds of the way through its programme of closing loss-making stores, which is part of a wider turnaround plan. The company, which owns Toast, YMC and [...]
Tesco chairman: White men are an ‘endangered species’ on UK boards March 11, 2017 The chairman of Tesco, John Allan, has warned white men everywhere that they are an "endangered species" on UK boards and that to get to the top they are going to have to work "twice as hard" as women and ethnic minorities. Despite sitting three executive boards himself (he is also chairman of Barratt Developments, and [...]
Mars says chocolate prices will rise after Brexit if the UK doesn’t get a good trade deal March 10, 2017 Those with a sweet tooth should look away now. For the global president of Mars has warned that chocolate prices could rise if the UK doesn't secure a good trade deal after Brexit. Fiona Dawson said the absence of a deal with EU member states would mean tariffs of up to 30 per cent for [...]
The Cambridge Satchel Company may be forced to close stores due to business rates March 10, 2017 The Cambridge Satchel Company may have to close two out of six of its stores when business rates rise this year. The high-end bag business has boutique outlets in the West End, Cambridge, Brighton and Edinburgh, but a hike in property taxes for the company, which comes into effect at the beginning of April, may force [...]
Tim Martin, chair of JD Wetherspoon, says the Budget didn’t do enough for Britain’s pubs March 10, 2017 JD Wetherspoon chairman Tim Martin has hit back at chancellor Philip Hammond's Budget, arguing it doesn't do enough to support pubs from increasing cost pressures. Wetherspoon's share price dipped in morning trading as investors took note of Martin's warning that lower sales and increased costs in the second half of the year will hit the [...]
JD Wetherspoon’s share price dips as chair Tim Martin cautions of lower sales and added costs in the second half March 10, 2017 JD Wetherspoon's shares fell more than three per cent after the pub group reported half-year results slightly ahead of expectations but warned of a difficult second half to come. The figures The pub owner and operator said profit before tax and exceptional items jumped 42.8 per cent to £51.4m from £36m for the 26 weeks to 22 January. Like-for-like sales [...]
William Hill has named Philip Bowcock its new chief executive March 10, 2017 Philip Bowcock has been named the new boss of William Hill with immediate effect. Previously chief financial officer of the bookmaker, Bowcock has worked as interim chief exec since July 2016. Chairman Gareth Davis said: "Since his appointment as interim chief executive last July, Philip has driven the business forward at real pace and we have seen important [...]
Lego reveals ambition to make toys for millions more children around the world March 9, 2017 Lego, the world's largest toymaker, said today it had generated the highest revenue in its 85-year history despite a soft European market. The figures Revenue rose by 6.0 per cent to DKK 37.9bn (£4.4bn), rising by 5.5 per cent on a constant currency basis. Operating profit for 2016 was DKK12.4bn compared with DKK 12.2bn in 2015. [...]
The Force is strong with Cineworld after Star Wars: Rogue One helps it to a record year March 9, 2017 Cineworld announced a record year as over 100m customers visited its venues in 2016, boosted by the acquisition of five Empire cinemas. The release of films like the highly anticipated Fantastic Beasts and Where to Find them and Star Wars: Rogue One also helped bring in a blockbuster 2016. Shares were flat at the time of [...]